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Getting in Shape for the New Year “Credit Wise”

How’s your credit?

Many times I hear people tell me they know exactly what their credit situation is. Often more times than not, they’re wrong. At times I hear, WHAT!?! I never knew that was on there. It must have been my spouse, or Ohhh I remember that. Or that should have been paid.

On the reverse side of that, many times I’ve heard how bad someone’s credit is. Bankruptcies, repositions, or late payments give the public a false impression that they will have bad credit. Surprisingly, many times I hear, WOW!. I would have never thought my credit would have been so good. The fact of the matter is, your New Years resolution needs to be Getting in Shape. I mean your credit, not you. First of all everyone is entitled to a free credit report every 12 months. Go to www.AnnualCreditReport.com for your free credit report. secondly go to www.ftc.gov/bcp/conline/pubs/credit/freereports.htm for information regarding credit do’s and don’ts. This will help you have a better understanding of the credit report. Thirdly if you’re still having a hard time understanding your credit and feel some derogatory tradelines are incorrect, Contact a reputable credit repair company. Note: There are many different types of credit companies that “fix your credit”, Ones that charge on a monthly basis, and others that consolidate your credit, while short paying your creditors. This can actually hurt your credit more than improve it. My recommendation is you use a company that charges you a flat fee and does what they say they can. Remember, cash is king, but credit rules.

If you have any questions regarding this or other mortgage matters e-mail “Dan the Mortgage Man” at dfernandez@PFGofBoca.com